Trading Report: The Howard Weil Raises Rice Midstream Partners LP (RMP) Price Target to $29.00

The Howard Weil Raises Rice Midstream Partners LP (RMP) Price Target to $29.00

Rice Midstream Partners LP (NYSE:RMP) had its price objective raised by Howard Weil from $27.00 to $29.00 in a report issued on Tuesday morning. The firm currently has a sector outperform rating on the stock.

Several other research analysts also recently commented on the company. Zacks Investment Research upgraded Rice Midstream Partners from a sell rating to a hold rating and set a $24.00 price objective on the stock in a report on Tuesday, August 9th. Goldman Sachs Group Inc. downgraded Rice Midstream Partners from a buy rating to a not rated rating in a report on Wednesday, September 28th. Drexel Hamilton initiated coverage on Rice Midstream Partners in a report on Tuesday, August 16th. They issued a buy rating on the stock. Barclays PLC lifted their price objective on Rice Midstream Partners from $22.00 to $24.00 and gave the stock an overweight rating in a report on Monday, August 8th. Finally, Stifel Nicolaus downgraded Rice Midstream Partners from a buy rating to a hold rating in a report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Rice Midstream Partners presently has a consensus rating of Buy and an average price target of $22.00.

Rice Midstream Partners (NYSE:RMP) opened at 22.73 on Tuesday. The firm has a 50-day moving average price of $22.34 and a 200 day moving average price of $19.29. Rice Midstream Partners has a one year low of $8.40 and a one year high of $24.30. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 17.69 and a beta of 1.35.

Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The firm had revenue of $46.55 million for the quarter, compared to the consensus estimate of $39.23 million. Rice Midstream Partners had a return on equity of 15.87% and a net margin of 57.23%. The company’s quarterly revenue was up 63.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. Equities analysts expect that Rice Midstream Partners will post ($0.13) earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brookfield Asset Management Inc. increased its position in Rice Midstream Partners by 48.5% in the first quarter. Brookfield Asset Management Inc. now owns 1,154,758 shares of the company’s stock worth $17,194,000 after buying an additional 377,148 shares during the period. State Street Corp increased its position in Rice Midstream Partners by 3.9% in the first quarter. State Street Corp now owns 26,293 shares of the company’s stock worth $391,000 after buying an additional 983 shares during the period. Goldman Sachs Group Inc. increased its position in Rice Midstream Partners by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,601,348 shares of the company’s stock worth $53,624,000 after buying an additional 962,235 shares during the period. TPH Asset Management LLC increased its position in Rice Midstream Partners by 1,259.6% in the first quarter. TPH Asset Management LLC now owns 161,918 shares of the company’s stock worth $2,411,000 after buying an additional 150,009 shares during the period. Finally, Harvest Fund Advisors LLC increased its position in Rice Midstream Partners by 5.8% in the first quarter. Harvest Fund Advisors LLC now owns 7,135,476 shares of the company’s stock worth $106,247,000 after buying an additional 393,643 shares during the period. Hedge funds and other institutional investors own 94.44% of the company’s stock.

About Rice Midstream Partners

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